Global Augmented Intelligence Market

Augmented Intelligence Market Size, Share, Growth Analysis, By Component(Software, and Services), By Enterprise Size(SMBs, and Large Enterprises) - Industry Forecast 2024-2031


Report ID: SQMIG45B2069 | Region: Global | Published Date: March, 2024
Pages: 197 | Tables: 61 | Figures: 75

Augmented Intelligence Market Insights

Global Augmented Intelligence Market size was valued at USD 14.92 Billion in 2022 and is poised to grow from USD 17.84 Billion in 2023 to USD 74.7 Billion by 2031, at a CAGR of 19.6% during the forecast period (2024-2031). 

The purpose of the Augmented Intelligence market is to leverage AI technologies to enhance human productivity, efficiency, and decision-making across various industries and sectors. By combining the strengths of AI algorithms and human expertise, Augmented Intelligence enables businesses and individuals to achieve better results, gain deeper insights, and make more informed decisions. The key driving factors of the Augmented Intelligence market is the increasing availability and accessibility of big data. With the exponential growth of data, businesses are seeking ways to derive meaningful insights and make data-driven decisions. The Augmented Intelligence market presents significant opportunities. The demand for AI-powered solutions and technologies is expected to increase as businesses recognize the value of leveraging AI to improve their operations and decision-making. The global Augmented Intelligence market is driven by the need for enhanced decision-making, leveraging AI technologies to augment human capabilities. While there are challenges to overcome, such as ethical concerns and implementation complexities, the market offers significant opportunities for businesses to leverage AI technologies and unlock new levels of productivity, efficiency, and insights.

US Augmented Intelligence Market is poised to grow at sustainable CAGR for the next forecast year.

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Augmented Intelligence Market size was valued at USD 14.92 Billion in 2022 and is poised to grow from USD 17.84 Billion in 2023 to USD 74.7 Billion by 2031, at a CAGR of 19.6% during the forecast period (2024-2031). 

The nature of the augmented intelligence market is highly competitive, with several key players vying for market share. These companies are actively engaged in strategic initiatives such as mergers and acquisitions, partnerships, and product launches to strengthen their market position and gain a competitive edge. The competitive landscape of the augmented intelligence market is characterized by the presence of both established technology giants and emerging startups. The competitive landscape of the augmented intelligence market is dynamic and evolving, driven by the pursuit of technological advancements, customer-centric solutions, and market expansion. With the increasing demand for augmented intelligence across industries, competition among key players is expected to intensify, leading to further innovations and advancements in the market. 'IBM Corporation (US)', 'Google LLC (US)', 'Microsoft Corporation (US)', 'Amazon Web Services (US)', 'Salesforce.com, Inc. (US)', 'Oracle Corporation (US)', 'SAP SE (Germany)', 'SAS Institute Inc. (US)', 'Intel Corporation (US)', 'Qlik Technologies Inc. (US)', 'NVIDIA Corporation (US)', 'Baidu, Inc. (China)', 'Facebook, Inc. (US)', 'Apple Inc. (US)', 'Tencent Holdings Ltd. (China)', 'Alibaba Group Holding Ltd. (China)', 'Huawei Technologies Co., Ltd. (China)', 'Accenture PLC (Ireland)', 'Infosys Limited (India)', 'Cognizant Technology Solutions Corporation (US)'

Businesses across industries are recognizing the importance of data-driven decision-making and are seeking advanced analytics solutions to gain valuable insights. Augmented intelligence enables organizations to leverage machine learning algorithms and natural language processing to analyze large volumes of data and extract meaningful patterns and insights. In 2022, the demand for augmented intelligence is expected to grow as businesses strive to optimize their operations, improve customer experiences, and drive innovation.

Integration of Augmented Intelligence in Various Industries: Augmented intelligence is increasingly finding applications in diverse industries, including healthcare, finance, retail, and manufacturing. In 2022, there will be a growing trend of integrating augmented intelligence into industry-specific processes and workflows, enabling organizations to gain insights, automate tasks, and improve overall operational efficiency.

The North America region accounted for a significant market share of over 30% in the augmented analytics market. This can be attributed to the widespread adoption of advanced technologies aimed at enhancing customer experience. Many enterprises in North America have embraced advanced analytics solutions to improve their business operations. From business intelligence to data discovery and now augmented analytics, the region has witnessed rapid adoption of these technologies. Companies in North America have recognized the importance of analyzing data effectively to understand consumer needs and provide exceptional customer experiences. As an example, in January 2019, Pepsico, a prominent food and beverage company, announced its plans to leverage augmented intelligence for strategic decision-making and gaining valuable consumer insights.

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Global Augmented Intelligence Market

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